Sir, I am a Govt employee. My Age is 41 ½ Yrs. I have a family of three members including myself. Recently I came to know about “Term Insurance Plan” which (as I have understood) only assures a particular sum of amount only in the event of the insured person’s death. But if the person remains alive, he/she gets nothing. I found this very unique and think it could be a very effective safeguard for my family in the event of my absence. Therefore, I would like to know : 1) Please tell me whether I have properly understood the meaning and effectiveness of “Term Insurance Plan” of not. 2) At my age, what may be the approximate premium for a sum of Rs.20 Lacs (coverage till 60 yrs of my age). 3) What are the major houses that offer this “Term Insurance Plan”? 4) Which company/companies offer/s most economic and competitive rate/s? 5) Is there any demerit of this “Term Insurance Plan”. Sir, I shall remain very much obliged for your valuable guidance. Thanx & regards Rajib Ray asked Jan 18 '12 at 11:30 by Rajib R 1●4●6●9 |
You should also read previous questions on this subject here: http://www.socialfinance.in/tags/term-insurance/ answered Jan 22 '12 at 23:11 by Pankaj Batra 5.2k●3●20 |